Associated Press
Coach's longtime CEO Lew Frankfort is seen in an undated photo provided by Coach. The company said Thursday, Feb. 14, 2013 that Frankfort,, who transformed what had been a small leather goods business into a global luxury brand, will step aside next year. The upscale purse and accessories seller said Thursday that Victor Luis will succeed him as CEO in January. Frankfort, who will remain as chairman and CEO until January, will then become executive chairman. (AP Photo/Coach)

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